So I bought RPS3&4 in the Steam Summer Sales, and have installed both of them. However, when I run RSP3, the top half of every cutscene is black. The rest of the game appears to work normally, but the cutscenes are not practically watchable, so I haven't touched the game yet beyond testing this phenomenon.
So far, I've discovered that the cutscenes in RSP4 work just fine, and running RSP3 in windowed mode doesn't help. The "cutscenes" folder appears to be normal, although I can't really read it too well. I'm running 64-bit Windows 7, and my graphics driver has been a temperamental <bad word> lately, but I really hope that the problem isn't on that end.
The game's engine seems to be hideously sensitive to everything around it, so I hope that the fix is straightforward enough.